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The Hut, the online retailer that counts Sir Terry Leahy as an investor, has moved into the black as its owners weigh up a possible flotation.

The company made £300,000 last year, compared with a £12.7 million loss in the previous year, as it reaped the benefits of entering new product categories. The Hut, which abandoned plans for an initial public offering in 2011, reported sales of £145 million, up 30 per cent, in 2012.

The company sells products ranging from protein supplements to cycling equipment through 15 websites, including Zavvi.com and Mybag.com. Earlier this year it acquired Probikekit.com as